https://www.taxtmi.com/caselaws?id=299966 The Tribunal dismissed the application filed by the Suspended Management, ruling that they lacked standing to file under Section 60(2) & 60(5) of IBC, 2016 and Rule 11 of NCLT rules. The decision emphasized the authority of the RP and the COC in making commercial decisions, citing legal precedents to support the conclusion that the Suspended Management should not interfere in such matters. The judgment highlighted the limited role of the Suspended Management and upheld the importance of maintaining the commercial wisdom of the COC without external intervention. en-us Mon, 27 Jul 2020 00:00:00 +0530 Fri, 07 Jan 2022 08:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299966 The Tribunal dismissed the application filed by the Suspended Management, ruling that they lacked standing to file under Section 60(2) & 60(5) of IBC, 2016 and Rule 11 of NCLT rules. The decision emphasized the authority of the RP and the COC in making commercial decisions, citing legal precedents to support the conclusion that the Suspended Management should not interfere in such matters. The judgment highlighted the limited role of the Suspended Management and upheld the importance of maintaining the commercial wisdom of the COC without external intervention. Case-Laws Insolvency and Bankruptcy Mon, 27 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299966